Recent Example
Here is a statement from an investor regarding one of the recent projects we helped them with. In addition, I can get you a copy of the information below.
“The one I just closed on. The closing statement is amazing. $9.5k cash back at close with an additional $15k in escrow to be released post rehab. I closed on Wed, the rehab started this morning. Rehab should be done in 2 to 3 weeks. I hope to have a renter in by 11/15 or 12/1. Last one only took 1 week to rent (had a renter in 4 weeks post close).
I didn’t borrow as much as I could with this (only 73% of appraised value). After my 1k earnest, 5.9k fee and my 11.2k rehab that leaves me net positive cash of 6.4k to cover unexpecteds, carrying cost to rental, then gravy. I now have $30k in equity in home with cash flow of a couple hundred a month and no out of pocket investment.
I will never get rich from any one of these, but if I keep doing a couple per year – in 3 to 4 years, this is a nice house for me in the city / sailboat / skicondo.”
Cheers,
Steve